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John Malone Giving Up Seat On Warner Bros. Discovery Board Of Directors, Shifting To Emeritus Role
Media billionaire John Malone is exiting his seat on Warner Bros. Discovery's board of directors and will become chair emeritus.
John MaloneMichael Kovac/Getty Images for Vanity Fair The company said Friday in an SEC filing that Malone notified the board on Tuesday that he did not intend to stand for re-election at WBD’s next annual shareholder meeting. Unlike many of Malone’s shrewd moves over many decades in the media business, the WBD merger hasn’t resulted in strong returns for shareholders after three years. The company’s stock slipped below $9 a share this week and trades at roughly one-third its level at the time of the combination.
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